Vision Marine Technologies Expands Electric Boat Rental Business to Portside, Ventura Harbor, CA, Canadian Business Journal

MONTREAL, November 10, 2022 (GLOBE NEWSWIRE) — Vision Marine Technologies (NASDAQ: VMAR) (“Vision Marine” or the “Company”) is a global leader and innovator in the electrification transition of the recreational boating industry with a highly profitable, profitable and rapidly growing electric boat rental business. We are pleased to announce our expansion plans to Port Said. Ventura Harbor, California.

Vision Marine has signed a lease agreement with Portside Ventura Harbor. Portside Ventura Harbor has secured office and slip space that will allow Vision Marine to expand its growing electric boat rental business. Portside Ventura Harbor is a new coastal community located in Southern California’s Pierpont Bay, opening in March 2023. The new recreational marina will include 104 boat slips and a public dock within walking distance of restaurants, shopping, parks and beaches. Vision Marine will initially have 15 of her boats available for rent. This number is expected to increase significantly in the future.

Located on the central coast of Southern California in Ventura County, the city of Ventura is a popular tourist destination. The county borders Los Angeles and Santa Barbara counties, making it an easy commute for a large number of tourists and locals.

“We are pleased to extend the continued development of our electric boat rental business with our expansion to Portside Ventura Harbour. Our rental business offers a unique experience for our residents and the general public,” said Vision Marine. Co-Founder and CEO Alex Mongeon said.

About Vision Marine Technologies

Vision Marine Technologies Co., Ltd. (NASDAQ: VMAR) aims to be a change leader and an ongoing engine to combat the problems associated with waterway pollution by disrupting the traditional boat industry with electricity, resulting in zero pollution, zero emissions. , contributes directly to a noise-free environment. Our flagship outboard powertrain (“E-Motion™”) features a unique union assembly between advanced battery packs, inverters and high-efficiency motors and a transmission and electric motor design utilizing extensive controls. Combined, it is the first fully electric dedicated outboard powertrain system. software. Our E-Motion™ and related technologies used in this powertrain system are uniquely designed to improve outboard powertrain efficiency, resulting in both increased range and performance. . Vision Marine continues to design, innovate, manufacture and market handcrafted, high performance, environmentally friendly electric recreational powerboats to its customers. The design and technology applied to our boats generally result in much better performance, higher speeds and longer range. Simply put, it’s a smoother ride than a traditional internal combustion engine (ICE) powerboat.

Forward-Looking Statements
Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. , “believe,” “expect,” “estimate,” “plan,” “outlook,” “forecast,” and other similar expressions predicting or indicating future events or trends, or of historical matters not a description. For example, Vision Marine uses forward-looking statements when discussing the benefits of its recent partnership, the benefits of Portside’s Ventura Harbor contract, and its boat rental expansion plans. These forward-looking statements reflect a current analysis of existing information and are subject to various risks and uncertainties. As a result, actual results may differ materially from these expectations due to changes in global, regional or local economic, business, competition, market, regulatory and other factors. Many of these factors are outside Vision Marine’s control. An important factor that could cause actual results to differ materially from the forward-looking statements is the vision on Form 20-F filed with the Securities and Exchange Commission (SEC) for the year ended August 31 Mentioned in Marin’s annual report. For 2021, such factors may be updated from time to time in Vision Marine’s periodic filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date of this release. Vision Marine undertakes no obligation to publicly update or confirm any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable securities laws. https://visionmarinetechnologies.com.

Investor and company contact:
Bruce Nurse
Vision Marine Technologies Co., Ltd.
(800) 871-4274
[email protected]

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